Quick question about the Euro

[davywavy]

Just curious here; ever since Cyprus introduced currency controls there have been effectively two currencies - the Cypriot Euro and the European Euro. I know the nominal exchange rate is 1:1, but I was wondering if anyone has any idea what the black market exchange rate now is?

i.e. If I had 150k Euros in Cyprus (I don't, this is an example), how much would someone in France give me for them?

I know hairyears has said in the past you work for a bank so wondered if you'd heard anything?

Comments

[davywavy.livejournal.com]

I'm certainly not implying anything untoward; my interest is pure curiosity.

I noted that the Bank of Cyprus in London was open for 48 hours after capital controls were introduced, and so my question may well be moot anyway.

[hairyears.livejournal.com]

There is an obvious question, which sounds like two questions:

Who decides that a currency transaction is exempt from these restrictions?
Who decides that a Euro-denominated account is onshore, or offshore and thereore beyond all consideration of restrictions and exemptions?

[davywavy.livejournal.com]

Oh, good point. I hadn't thought it through.